The Gold Answer
For month on end, I’ve been suggesting that the melt down in Gold, was probably because of the depreciation of the Chinese Yuan, and that the Chinese were pulling gold lower, to offset the degradation of their money. In other words, if China wants to buy gold ( It does) and its money is falling in value, then it would cost them more to buy the gold. But, what if they pulled gold lower, as their yuan fell? Then they could still buy the same amount of gold, for the same “value” of money.
This week I found an article by Jim Rickards, with an interesting twist to my theory, and one that actually fits perfectly with my rants about the monetary reset, the SDR’s and China’s attack on Gold. So, here’s his article, in full as written by Mr. Rickards: